With normal weather supporting agriculture and the steady recovery in major industrial economies boosting exports, growth will pick up in nearly all economies in Southeast Asia, nudging average growth to 4.8 per cent in 2017 and 5.0 per cent in 2018. Strengthening growth and rising international oil prices will mean higher inflation and a narrower current-account surplus for Southeast Asia. The current-account deficit is projected to run around 8 per cent of GDP in the next two years. According to the report, Myanmar’s GDP growth slowed to 6.4 per cent last year from 7.3 per cent in fiscal 2015. Industrial economies are gathering momentum, with the US, the euro zone and Japan expected to grow collectively by 1.9 per cent in 2017 and 2018.

Source: The Nation Bangkok April 06, 2017 18:00 UTC